We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Kosmos Falls on Disappointing Requin Tigre-1 Well Finding
Read MoreHide Full Article
Oil and gas exploration company, Kosmos Energy Ltd. (KOS - Free Report) witnessed a 13.8% decline in the last session amid heavy trade, following the news of the company’s failure to find hydrocarbons in its Requin Tigre-1 exploration well offshore Senegal. The stock closed at $5.74 yesterday, declining 15.5% in the past 30-day time frame.
The well is located at Saint Louis Offshore Profond block, where Kosmos holds 30% interest. BP p.l.c. (BP - Free Report) has 60% interest in the prospect. Senegal's state-run oil company Petrosen owns the remaining 10% interest.
Notably, the company met the same fate previously in the Hippocampe-1 well in October and Lamantin-1 in December, located offshore Mauritania. Kosmos used Ensco DS 12 drillship - owned by Ensco plc - for drilling purposes at both these wells.
The company is conducting post-well analysis at Requin Tigre-1, which was drilled to 5,200 meters of depth. The data gathered from these three attempts will be added to the company’s information base related to the Mauritania and Senegal offshore prospects. Kosmos’ drillship will now move on to offshore Suriname, South America to test two oil prospects.
About the Company
Based in Hamilton, Bermuda, Kosmos operates as an oil and gas exploration and production company. It focuses on several regions in Africa and South America. The company has production and development projects located offshore Ghana and Equatorial Guinea.
Kosmos has lost 11.8% in the last year compared with 3.8% decline of its industry.
Houston, TX -based Cabot is an independent energy company. Its sales for the fourth quarter of 2017 are expected to grow 35.9% year over year. Earnings for 2017 are expected to be up 352.4%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Kosmos Falls on Disappointing Requin Tigre-1 Well Finding
Oil and gas exploration company, Kosmos Energy Ltd. (KOS - Free Report) witnessed a 13.8% decline in the last session amid heavy trade, following the news of the company’s failure to find hydrocarbons in its Requin Tigre-1 exploration well offshore Senegal. The stock closed at $5.74 yesterday, declining 15.5% in the past 30-day time frame.
The well is located at Saint Louis Offshore Profond block, where Kosmos holds 30% interest. BP p.l.c. (BP - Free Report) has 60% interest in the prospect. Senegal's state-run oil company Petrosen owns the remaining 10% interest.
Notably, the company met the same fate previously in the Hippocampe-1 well in October and Lamantin-1 in December, located offshore Mauritania. Kosmos used Ensco DS 12 drillship - owned by Ensco plc - for drilling purposes at both these wells.
The company is conducting post-well analysis at Requin Tigre-1, which was drilled to 5,200 meters of depth. The data gathered from these three attempts will be added to the company’s information base related to the Mauritania and Senegal offshore prospects. Kosmos’ drillship will now move on to offshore Suriname, South America to test two oil prospects.
About the Company
Based in Hamilton, Bermuda, Kosmos operates as an oil and gas exploration and production company. It focuses on several regions in Africa and South America. The company has production and development projects located offshore Ghana and Equatorial Guinea.
Kosmos has lost 11.8% in the last year compared with 3.8% decline of its industry.
Zacks Rank and Stock to Consider
Kosmos has a Zacks Rank #3 (Hold).
A better-ranked stock in the oil and energy space is Cabot Oil & Gas Corporation . It sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Houston, TX -based Cabot is an independent energy company. Its sales for the fourth quarter of 2017 are expected to grow 35.9% year over year. Earnings for 2017 are expected to be up 352.4%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>